Hoboken company to build wind farm off Rhode Island

A Hoboken-based wind energy company has been chosen to build $1.5 billion offshore wind farm in Rhode Island, according to NJ Biz.

Deepwater Wind will provide 15 percent of all electricity used in Rhode Island, according to the magazine.

Deepwater, which made one of seven bids on the project, will construct a regional manufacturing facility in Quonset, generating up to 800 jobs and total annual wages of $60 million in the Ocean State, the governor's office said. The company is backed by First Wind, a Newton, Mass.-based onshore wind project developer; First Wind, a New York City-based investment and technology development company and Ospraie Management; an asset-management firm in New York City.

The company and the state are expected to reach an agreement within 90 days.